“One of the most remarkable stories of this year is Wal-Mart and they are again proving that with their results today,” said Art Hogan, chief market strategist at B. Riley FBR in Boston.

The S&P 500 recorded its biggest percentage decline in more than 2 months on Wednesday as energy stocks dropped on sliding crude prices and concerns over the passage of a tax revamp after two Republican senators were critical of the proposal weighed.

The Republican-controlled U.S. Congress was approaching a major test on Thursday of its ability to overhaul the federal tax code, as lawmakers prepared for their first full-scale vote on sweeping tax legislation.

Upbeat data on Wednesday added to expectations the Federal Reserve will hike interest rates again next month as well as multiple times next year.